Systems and methods for adjusting crediting limits to facilitate transactions

• US 7,979,349 B2
• Filed: 09/30/2008
• Issued: 07/12/2011
• Est. Priority Date: 11/05/1999
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Thomas, Tracey R., Sharma, Bansi L., Bishop, Fred
• Primary Examiner(s): Patel, Jagdish
• Application Number:
  US12/242,827
• Publication Number:
  US 20090048952A1
• Time in Patent Office: 1,015 Days
• Field of Search: 705/35, 705/39
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A financial account issuer facilitating transactions between accounts is disclosed. The invention provides sellers with an irrevocable method of receiving funds from a purchaser and for improving purchaser willingness to transact with an unknown party. The invention also includes the options of interest payments, the use of different account issuers, different financial accounts, budget transfers, spend compartmentalization, cost-splitting, adjusting credit limits, loans, gifting, intermediary facilitating the transaction, transaction tracking, rapid funds availability, confidential transfer of funds, immediate initiation of shipment by a seller, releasing funds to a seller only after approval of the goods, services, or other value, demonstrating proof of payment, and recourse against a remote seller.

Claims

1. A method comprising:

receiving, at a financial account issuer server configured to facilitate a transaction using financial accounts, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the financial account issuer server issued the first financial account;

receiving, at the financial account issuer server, a request to credit at least a portion of the first amount to a second financial account having a second identifier associated with the second financial account;

determining, by the financial account issuer server, if at least one of the request to debit the first financial account or the request to credit the second financial account is fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account;

identifying, by the financial account issuer server, a first credit limit of the first financial account;

verifying, by the financial account issuer server, that the first credit limit of the first financial account is able to be decreased;

decreasing, by the financial account issuer server, the first credit limit of the first financial account, if the request to debit is not fraudulent;

identifying, by the financial account issuer server, a second credit limit of the first financial account;

verifying, by the financial account issuer server, that the second credit limit of the second financial account is able to be increased; and

increasing, by the financial account issuer server, the second credit limit of the second financial account, if the request to credit is not fraudulent.

2. The method of claim 1, wherein decreasing comprises decreasing the first credit limit of the first financial account by an amount equal to the first amount, and increasing comprises increasing the second credit limit of the second financial account by an amount at least one of greater than or less than the first amount.

3. The method of claim 1, wherein decreasing comprises decreasing the first credit limit of the first financial account by an amount at least one of greater than or less than the first amount, and increasing comprises increasing the second credit limit of the second financial account by an amount equal to the first amount.

4. The method of claim 1, further comprising converting the increased second credit limit to a cash credit on the second financial account.

5. The method of claim 1, further comprising converting the increased second credit limit to a cash credit on the second financial account, in response to a payment being received to settle a charge associated with the first amount on the first financial account.

6. The method of claim 1, further comprising converting the increased second credit limit to a cash credit on the second financial account and paying interest to the second financial account on the cash credit, wherein the interest is determined based upon the value of the cash credit and the interest is paid by the financial account issuer server.

7. The method of claim 1, wherein the receiving the request to debit the first amount is regardless of items being exchanged between the owner of the first financial account and the owner of the second financial account.

8. The method of claim 1, wherein the receiving the request to debit the first amount is based upon an item being exchanged between a first party associated with the first financial account and a second party associated with the second financial account wherein the first party and the second party conducted the transaction for purchasing the item, exchanged the item and communicated via a network with the financial account issuer server.

9. The method of claim 1, wherein the receiving the request to debit the first amount is based upon an item being exchanged between a first party associated with the first financial account and a second party associated with the second financial account, wherein the item comprises at least one of a good, service, information, experience, access, or entertainment, wherein the first party and the second party conducted the transaction for purchasing the item, exchanged the item and communicated via a network with the financial account issuer server.

10. The method of claim 1, wherein the receiving the request to debit the first amount is based upon an item being exchanged between a first party associated with the first financial account and a second party associated with the second financial account, wherein the item was identified through at least one of classified advertisement, auction, internet posting, or internet auction, wherein the first party and the second party conducted the transaction for purchasing the item, exchanged the item and communicated via a network with the financial account issuer server.

11. The method of claim 1, wherein the request to credit includes information about the second financial account, wherein the information includes a second financial account issuer that issued the second financial account, wherein the second financial account issuer is not associated with the financial account issuer server.

12. The method of claim 1, wherein the receiving the request to debit is received at a first financial account issuer server and the receiving the request to credit is received at a second financial account issuer server, wherein the financial account issuer server comprises the first financial account issuer server and the second financial account issuer server, and wherein the first financial account issuer server issued the first financial account and the second financial account issuer server issued the second financial account.

13. The method of claim 1, further comprising determining an account issuer associated with at least one of the first financial account or the second financial account.

14. The method of claim 1, wherein the financial account issuer server is associated with at least one of a transaction account issuer, charge card issuer, credit card issuer, debit card issuer, gift card issuer, bank, lender, credit union, or a third party issuer under contract with the financial account issuer server.

15. The method of claim 1, further comprising receiving notification, at the financial account issuer server, that an item associated with the first amount has been at least one of received or approved by a first party associated with the first financial account, prior to increasing the second credit limit on the second financial account, wherein the first party and the second party conducted the transaction for purchasing the item, exchanged the item and communicated via a network with the financial account issuer server.

16. The method of claim 1, further comprising receiving notification, at the financial account issuer server, that an item associated with the first amount has been shipped by a second party associated with the second financial account, prior to increasing the second credit limit on the second financial account, wherein the first party and the second party conducted the transaction for purchasing the item, exchanged the item and communicated via a network with the financial account issuer server.

17. The method of claim 1, further comprising receiving notification, at the financial account issuer server, that an item associated with the first amount has been shipped by a second party associated with the second financial account, prior to increasing the second credit limit on the second financial account, wherein the first party and the second party conducted the transaction for purchasing the item, exchanged the item and communicated via a network with the financial account issuer server.

18. The method of claim 1, further comprising conducting a credit risk analysis associated with at least one of the first financial account or the second financial account.

19. A method comprising:

sending, by a user computer-based system and to the financial account issuer server, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the financial account issuer server issued the first financial account; and

,

sending, by a user computer-based system and to the financial account issuer server, a request to credit at least a portion of the first amount to a second financial account having a second identifier associated with the second financial account,

wherein the financial account issuer server identifies a first credit limit of the first financial account, verifies that the first credit limit of the first financial account is able to be decreased and decreases the first credit limit of the first financial account, if the request to debit is not fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account and, the financial account issuer server identifies a second credit limit of the first financial account, verifies that the second credit limit of the second financial account is able to be increased and increases the second credit limit of the second financial account, if the request to credit is not fraudulent based upon the fraud analysis routine.

20. An article of manufacture including a non-transitory, tangible computer readable medium having instructions stored thereon that, in response to execution by a financial account issuer server configured to facilitate a transaction, cause the financial account issuer server to perform operations comprising:

receiving, at a financial account issuer server configured to facilitate a transaction using financial accounts, a request to debit a first amount from a first financial account having a first identifier associated with the first financial account, wherein the financial account issuer server issued the first financial account;

receiving, at the financial account issuer server, a request to credit at least a portion of the first amount to a second financial account having a second identifier associated with the second financial account;

determining, by the financial account issuer server, if at least one of the request to debit the first financial account or the request to credit the second financial account is fraudulent based upon a fraud analysis routine, wherein the fraud analysis routine analyzes pre-determined criteria associated with the request to debit, the request to credit, the first financial account and the second financial account;

identifying, by the financial account issuer server, a first credit limit of the first financial account;

verifying, by the financial account issuer server, that the first credit limit of the first financial account is able to be decreased;

decreasing, by the financial account issuer server, the first credit limit of the first financial account, if the request to debit is not fraudulent;

identifying, by the financial account issuer server, a second credit limit of the first financial account;

verifying, by the financial account issuer server, that the second credit limit of the second financial account is able to be increased; and

increasing, by the financial account issuer server, the second credit limit of the second financial account, if the request to credit is not fraudulent.